Steel Partners (NYSE:SPLP) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP) in a research note published on Sunday morning. The firm issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Stock Performance

Shares of SPLP stock opened at $40.95 on Friday. The firm has a 50 day moving average price of $39.12 and a two-hundred day moving average price of $38.24. The company has a quick ratio of 1.15, a current ratio of 1.26 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $835.09 million, a PE ratio of 6.00 and a beta of 1.35. Steel Partners has a 12-month low of $33.12 and a 12-month high of $43.70.

Steel Partners (NYSE:SPLP) last issued its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $4.85 earnings per share (EPS) for the quarter. The firm had revenue of $533.16 million during the quarter. Steel Partners had a net margin of 11.04% and a return on equity of 21.44%.

Institutional Investors Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Gabelli Funds LLC increased its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 596,503 shares of the conglomerate’s stock after buying an additional 1,700 shares during the period. Gabelli Funds LLC owned 2.93% of Steel Partners worth $22,207,000 as of its most recent filing with the Securities and Exchange Commission. 50.75% of the stock is currently owned by hedge funds and other institutional investors.

About Steel Partners

Steel Partners Holdings L.P., together with its subsidiaries, engages in industrial products, energy, banking, defense, supply chain management, logistics, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, Financial Services, and Supply Chain segments. The company fabricates precious metals and alloys into brazing alloys; manufactures and sells seamless stainless steel tubing coils; fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and woven substrates of fiberglass, quartz, carbon, and aramid materials for specialty applications.